Marimaca Copper Files Updated Technical Report for Flagship Chilean Copper Project

Marimaca Copper Corp. (TSX: MARI) is a copper exploration and development company focused on the Marimaca Oxide Deposit (MOD) located in the Antofagasta Region of Chile. The Company announced that it has filed an updated NI 43-101 technical report for the Marimaca Copper Project, incorporating significant new drilling data since the last resource estimate in October 2022.

The updated mineral resource estimate includes a 27% increase in measured and indicated resources to 200.3 million tonnes at 0.45% total copper, for a total of 899,709 tonnes of contained copper. This includes 97 million tonnes in the measured category at 0.49% copper for 473,912 tonnes of contained copper. The updated technical report reinforces Marimaca’s position as one of the most significant new copper discoveries in Chile in the last decade.

According to Luis Oviedo, the independent consultant responsible for the mineral resource estimate, the new drilling results were successful in converting a significant portion of inferred resources to the measured and indicated categories. This provides a higher level of confidence in the overall resource for Marimaca as the project advances towards feasibility and potential mine development.

With copper prices at robust levels in 2023 and forecast to remain strong due to decarbonization trends and supply constraints, Marimaca represents an attractive new copper development project. The Company is currently undertaking metallurgical test work and other studies required for a pre-feasibility study. Investors should keep a close eye on Marimaca Copper as the Company continues to derisk and advance the MOD towards production. The latest technical report confirms the significant potential value for shareholders as this major new copper discovery moves down the development pipeline.